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Full Description
The Evolution of Contemporary Arts Markets looks at the historical evolution of the art market from the 15th century to the present day. Art is both an expression of human creativity and an object of economic value and financial refuge at times of economic turbulence. Historically, the art market evolved with the development of capitalism, finance and technical change, and art schools responded to social events such as wars, revolutions and waves of democratization.
The author discusses the main features of modern art markets such as complexity in art valuation, globalism, segmentation, financialization, indivisibility, liquidity and provenance issues. The book studies the impact of wealth inequality and economic cycles and crises on the art market and features a chapter focusing specifically on the art market in China.
This accessible publication is ideal for a broad, interdisciplinary audience including those involved in the economic and financial fields as well as art lovers, art market participants and social and cultural scholars.
Contents
1. Introduction 2. The Art Market: A Historical Perspective 3. The Art Sector in China: Traditional, Maoist and Globalized Periods 4. Main Conceptual Features of the Art Market: What is Art? How to Value it? How Art Trade is Organized? 5. Recessions, Financial Crises and War: Impact on the Art Sector 6. How the Super-Rich is Shaping the Art Sector in an Era of High Inequality (with Paula Solimano). 7. Investing in Art as Protection Against Economic Turbulence: Prices in the Cycle 1998-2018 8. Synthesis and Public Policy Issues
